Mr. Page Tucker reports

AGM RESULTS

All matters were approved at Prostar Holdings Inc.'s recent annual general meeting (AGM) held on Tuesday, Sept. 19. Vasa Dasan, the company's chief operating officer, did not stand for re-election at this year's AGM, and instead, Jonathan Richards, the company's chief financial officer, was re-elected to the board of directors. All other board members remain the same.

Mr. Dasan will, effective Sept. 30, be retiring from his position as the company's chief operating officer. The company would like to thank Mr. Dasan for all of his contributions to the growth of the company over the last few years and wishes him well with his future endeavours. Page Tucker, the company's chief executive officer, stated: "As Vasa embarks on a new chapter in his life, we would like to take this opportunity to express our heartfelt appreciation for his outstanding service and wish him the very best in his well-deserved retirement years. His legacy will continue to inspire us as we strive to maintain the high standards of excellence that have become synonymous with the PointMan solution."

Shareholders of the company also approved the reappointment of Davidson & Company as the company's auditor and approved the adoption of a new long-term incentive plan (LTIP) for the company. The LTIP allows for up to 10 per cent of the company's outstanding common shares at any time to be issued as options and also allows for other share-based compensation to be issued up to a maximum amount of 10 million common shares. Further details regarding the company's LTIP can be found in the company's information circular prepared for the AGM that is filed on SEDAR+ under the company's profile.

The company granted one million stock options to Louis Suchy in conjunction with his appointment as chief technology officer (see news release dated Aug. 8, 2023). The options were granted at an exercise price of 36 cents and are exercisable for a five-year term, expiring Sept. 21, 2028. The options vest according to the following schedule: one-third on grant; one-third will vest 12 months from the date of issue; and one-third will vest 24 months from the date of issue.

About Prostar Holdings Inc.

Prostar is a world leader in precision mapping solutions and is creating a digital world by leveraging the most modern GPS, cloud and mobile technologies. Prostar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. Prostar's flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the life cycle management of critical infrastructure assets both above and below the Earth's surface.